Markets News

Small and Midcaps grab the spotlight in the first week of March

Indian stock market witnessed high volatility during the first week of March in absence of any major trigger from the domestic front.

Moreover, broader markets came under a lot of selling pressure on March 05 due to the shaken equity markets globally.

Nifty ended the week in the positive note after two weeks of losses and recovered some of the lost ground.

Further, the benchmark indices ended on a positive note with gains exceeding 2.5 percent each for the week.

However, the S&P BSE Sensex recorded a hike of 2.6 percent whereas the Nifty50 surged 2.8 percent for the week ended March 5.

This is in comparison to 3.05 percent increase reported in the S&P BSE Midcap index.

Meanwhile, the S&P BSE Smallcap index scaled up 3.8 percent.

In addition, the Sensex closed below the crucial supports of 14,950 and 50,500 on a daily basis.

Besides this, the bank nifty scaled down the trading range ending at an unchanged level on a weekly basis.

Rise in the long term treasury yields and upward activity in the dollar index towards 92 led to global weakness.

Moving forward, around 50 stocks in the S&P BSE 500 index climbed up to 10-30% in the last week.

These include BHEL, Adani Ports, UltraTech Cements, JSW Energy, Delta Corp, Symphony, JustDial, Adani Power, Adani Total Gas etc.

The market analysts expect the spot to trade within 72.50-73.50 with a sideways bias next week.

Investors need to look for the Industrial Production Data for the month of January on the macro front.

Also, investors must focus on Inflation data for the month of February which will release on 12 March.


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